Posted on 08/04/2011 10:10:04 PM PDT by Justaham
Investors seeking reason for optimism after the worst stock-market sell-off since the 2008 financial crisis probably won't find it in Friday's July jobs report.
Economists forecast that employers added only 90,000 jobs last month and that the unemployment rate was unchanged at 9.2 percent, according to a survey by FactSet.
That would mark an improvement over the 18,000 net jobs created in June — the fewest in nine months — and the 25,000 in May. But over time, 90,000 new jobs a month wouldn't even be enough to keep the unemployment rate from rising. Nor would it erase fears on Wall Street that the U.S. may be on the verge of another recession.
At least 125,000 jobs a month are needed to keep up with population growth. Twice as many are generally associated with significant declines in the unemployment rate, which has risen for three straight months.
Economists at Bank of America Merrill Lynch estimate there is a 35 percent chance of another recession within the next year.
Such fears and heightened concerns about Europe's debt crisis sent stock markets plummeting Thursday. The Dow Jones industrial average fell nearly 513 points, its biggest decline since Oct. 22, 2008.
(Excerpt) Read more at news.yahoo.com ...
we are apparently adding 100,000 new immigrants a month and less than 20,000 jobs??
This screams third world poverty coming
Why doesn't Europe just raise its debt limit to solve this problem? < / sarcasm >
So they are back to adding 100,000 jobs a month “that we don’t know about at companies we think exist”...
Each one with a job can live 5 to a room. Hey! That oughta work!!/sarcasm;)
125,000 jobs a month keeps us treading water at the same level - too bad the current level is 100 feet below the surface ...
Thinking like a leftist: The problem isn’t a lack of jobs but too many people competing for them! We can solve the jobs crisis, global warming AND over-population with a one-child policy.
If liberals that complain about overpopulation were consistant, they’d kill themselves.
Another recession? Seriously, when did the gray recession end according to them?
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